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CORPORATIONS ACT 2001 - SECT 921ZF

Assisted decision making

  (1)   ASIC may arrange for the use, under ASIC's control, of processes to assist decision making (such as computer applications and systems) for any purposes for which ASIC may make decisions in the performance or exercise of ASIC's functions or powers under this Division.

  (2)   A decision the making of which is assisted by the operation of such a process under an arrangement made under subsection   (1) is taken to be a decision made by ASIC.

  (3)   ASIC may substitute a decision for a decision (the initial decision ) the making of which is assisted by the operation of such a process under an arrangement under subsection   (1) if ASIC is satisfied that the initial decision is incorrect.


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